Financial Emergencies And How To Deal With Them

9 Important Financial Emergencies And How To Deal With Them

Personal Finance - Millionaire Mob - May 23, 2019

Have you ever encountered a financial emergency? What was it about, and how did you deal with it? Here, we will explore some of the most common financial emergencies and how to deal with them.

Have you ever been in a situation that requires you to use some finances which you had not anticipated?  In life, we’re sometimes faced with sudden inevitable occurrences.

Whether a sudden sickness, job loss, or sudden demise of a loved one, different financial emergences occurrences require us to dig our pockets deeper to fix them.

I’ve been using Personal Capital to plan for a financial emergency. I can use it to monitor my emergency fund and see how much cash is embedded in my net worth. Best part it’s completely free to use.

Financial freedom is all about having the flexibility to live completely free without any burden even if there is an emergency. Even if you’ve achieved financial freedom, building some sort of buffer in your financial plan for financial emergencies is important.

Before we explore more on the different types of financial emergencies and ways to deal with them, let’s look at what a financial emergency is first.

So, What are Financial Emergencies?

Financial emergencies are unexpected situations that require one to use some money that they didn’t intend. What happens when you find yourself in need of cash abruptly from an unanticipated event is what is referred to as a financial emergency.

If not resolved on time, it can pose immediate grave repercussions. These emergencies can occur at any time and in any circle of life, including at home, and work and more.

Since you can’t prevent some of these emergencies, the prudent thing to do would be to plan for them. That is, make sure that when the unexpected event occurs, you have some cash stashed somewhere to cushion you from the impact.

Although you cannot entirely plan for everything, having a fall back plan or some backup is always crucial.

List of Most Common Financial Emergencies

Here are 9 of the most severe financial emergencies you are likely to encounter.

Major Medical Emergencies

Some health or medical emergencies are beyond our control, and no matter how much we try to stay healthy and fit, they still occur. Although we all want to believe that we won’t get sick, planning for such things before they happen is the best thing to do.

The emergency may be directly yours or relating to you, for example, for a close family member. Even though we have insurance covers, it may not always suffice in such unfortunate occurrences.

A major medical emergency may require an ambulance, in some cases major surgery and post-surgery therapy. Depending on the severity of the medical emergency, an insurance cover may not cover the whole expense, and you may need to dig deeper into your wallet.

Also, if it’s your pet that requires medical attention, you may incur some costly expenses, especially relating to the veterinarian visits. If in case you haven’t insured your pet, then you may incur some considerable amounts which may strain your budget.

Thus, planning for such eventualities is vital. Sometimes, even with the flexible spending account (FSA), the medical emergency may consume all the funds in the account and still require more. In such an instance, you again go back to your pocket to cater to the remaining balance.

Job or Income Loss

A sudden loss of your source of income can be devastating not only financially but also emotionally and mentally. Having to cope with the ever-rising cost of living without a job is something to dread and which can cause tremendous financial strain.

To continue reading, please go to the original article here:

https://millionairemob.com/financial-emergencies/

Financial And Personal Benefits Of Watches

Financial And Personal Benefits Of Watches: Stay Sharp With A Watch

Personal Finance - Millionaire Mob - June 7, 2019

Watches are an important accessory for your ongoing success. Here are some of the benefits of watches.

There are few things that are almost synonymous to financial success and prosperity. Some of them are luxury cars, luxury homes or villas in exotic locations, antique and artwork collections, not to forget the luxury watches.

Luxury watches have always been seen as the mark of success. In fact, many people still see it as a important accessory for financial and personal growth.

In this age of technological advancements and portable devices, you might be wondering why people still wear traditional watches. In this post, we shall check out why you should wear watches to stay sharp and smart to become successful, both financially as well as in your personal life.

Since many centuries, watches have been closely linked to words like professionalism and prestige. Most of the successful businesses will vouch for the fact that their watch is one of their most essential clothing accessory.

Let’s first check out why people who wear traditional wrist watches are bound to succeed financially.

For Better Productivity:

Time management is undoubtedly the most important priority for professionals and businesspeople alike. Of course, you can also see the time on your phone, but it can be a big distraction as well, especially while you are working.

Also, many IT companies do not allow their employees or professionals to take their smartphones to their desks, because of company policies on information security.

Watches not only allow you to look professional, but will also give out the same kind of impressions to others. They won’t look at you suspiciously, like you are spending time on social media at work, when you are looking at your watch.

You can be more focused at work, because watches allow you to work comfortably and hands-free, because you will not have to keep dipping your hand in your pocket all the time,  to retrieve the phone. Wristwatches allow you to do away with all the distractions that the smartphones cause, thereby helping you work more productively.

If you wish to become successful in your workplace, then you must definitely try wearing a traditional wrist watch, if you don’t do that already. These classic timepieces do not disturb you with countless notifications like the smartphones.

In simple words, they help you in improving your productivity at your workplace.

Priority For Quality:

People who wear luxury and traditional wristwatches give importance to the quality. They admire the expensive materials and fine craftsmanship that goes into making of these lovely watches. Similarly, they look for quality on other aspects of professional lives, which helps them shine above the rest of their colleagues.

The wanting for quality also rubs off on their work ethics, which is why they are able to deliver top quality works on their projects, or businesses.

That is probably why most of the successful professionals and businesspeople are seen to be sporting luxury wristwatches.

To continue reading, please go to the original article here:

https://millionairemob.com/benefits-of-watches/

How We Stopped Fighting About Money

How We Stopped Fighting About Money

How We Made a Budget… and Stopped Fighting About Money

By  Abbigail Kriebs

A few of years ago, my husband and I were in limbo. We were trying to sell a house that wouldn’t sell and paying off student loans on an education that promised a higher-paying job but didn’t deliver. Our savings weren’t growing, even though we both had full-time jobs. We felt like we were hurtling along in life, but never getting anywhere.

A friend was leading a class on budgeting, so we signed up — more as a favor than anything else. I mean, we weren’t frivolous with our money! We weren’t smothered under debt! We weren’t like other couples fighting about money.

But we weren’t talking about money, either. And since finances influence every other area of life, we weren’t talking about our jobs or our goals. They were kind of there, kind of fuzzy and not at all the driving force behind our decisions.

That budgeting class changed how we thought about money — and ultimately how we related to one another. Being forced to sit down and talk about our financial situations brought life into better focus. Often, our conversation spilled outward from money into how things were going at work, what struggles we were facing, revealing our insecurities and helping us listen to each other person more deeply.

How to Avoid Fighting About Money

It’s not news that most fights in a relationship have something to do with money. But happier couples figure out a way to talk about their issues with clear solutions in mind, according to a 2019 study published in Family Process.

Most of these fights start because the people in the relationship aren’t on the same page. Maybe you’re working off different budgets (or no budget), or you have different attitudes toward money.

Talking about money early and often in a relationship can help you make sure you’re working together, rather than against one another, and prevent future fights. And creating a shared budget can help ensure you’re working toward the same goals and bring you closer as a couple.

Here’s how to talk to your significant other about money, and how to create a budget that works for both of you.

Make Sure You’re Not Tired, Hungry or Rushed

It may sound silly, but it’s not. If you try to sit down and sort out money problems when you are any in of these three states, you are doomed to fail.

It’s important to give yourselves the time you need, especially the first few months you sit down to talk. Don’t start the discussion when one of you is going to have to run off to work or right before bed.

To continue reading, please go to the original article here: 

https://www.thepennyhoarder.com/budgeting/how-to-budget-as-a-couple/?aff_sub2=homepage

Funny, Short and Inspirational Retirement Quotes:

Funny, Short and Inspirational Retirement Quotes:

I have compiled a good number of words of wisdom or better, what I like to call the best retirement quotes that will brighten your day.

This list of retirement quotes has been compiled from various people whose words of wisdom couldn’t go unnoticed.

Inspirational Retirement Quotes

Here are some of the most popular inspirational quotes on retirement that you should read before retiring as well as after.

1. “Just because you are getting older and have retired doesn’t mean that you should have less confidence in your abilities. Think about the experience and knowledge that you have gained by all the years you have worked” -Theodore W. Higginsworth

2. “Retirement: It’s nice to get out of the rat race, but you have to learn to get along with less cheese.” – Gene Perret

3. “Planning to retire? Before you do, find your hidden passion. Do the thing that you have always wanted to do.” – Catherine Pulsifer

4. “Age is only a number, a cipher for the records. A man can’t retire his experience. He must use it. Experience achieves more with less energy and time.” – Bernard Baruch

5. “Every new beginning comes from some other beginning’s end.” – Lyrics from “Closing Time” by Semisonic

6. “What does retirement mean now that there are so many opportunities for learning, for caring, for serving? We can redefine aging.” – Rachel Cowan, Wise Aging

7. “Retirement is a new beginning, and that means closing the book on one chapter to begin the next.” Sid Miramontes, Retirement: Your New Beginning

8. “Retirement gives you the time literally to recreate yourself through a sport, game, or hobby that you always wanted to try or that you haven’t done in years.” – Price, Stephen D.

9. “Shall the day of parting be the day of gathering? And shall it be said that my eve was in truth my dawn?” by Kahlil Gibran

10. “There is a whole new kind of life ahead, full of experiences just waiting to happen. Some call it ‘retirement.’ I call it ‘bliss.’” – Betty Sullivan

11. “Dare to live the life you have dreamed for yourself. Go forward and make your dreams come true” – Ralph Waldo Emerson

12. “Don’t simply retire from something; have something to retire to.” – Harry Emerson Fosdick

13. “Preparation for old age should begin not later than one’s teens. A life which is empty of purpose until 65 will not suddenly become filled on retirement.” – Arthur E. Morgan

14. “You are never too old to set a new goal or dream a new dream.” – C.S. Lewis

15. “What we call the beginning is often the end. And to make an end is to make a beginning. The end is where we start from.” – T.S. Eliot

16. “Retirement is not a life without purpose; it is the on-going purpose that provides meaningfulness” – Robert Rivers

17. “Retirement is …. a time to experience a fulfilling life derived from many enjoyable and rewarding activities.” – Ernie J. Zelinski

18. “If we had no winter, the spring would not be so pleasant; if we did not sometimes taste of adversity, prosperity would not be so welcome.” – Anne Bradstreet

To continue reading, please go to the original article here:

https://millionairemob.com/retirement-quotes/

Should I Just Give Up on Saving Money?’

Should I Just Give Up on Saving Money?’

By Charlotte Cowles

I know that I could and should be saving money and planning for my future, but I’m just not. I’m 26, make about $55K per year, and live in New York. I am lucky enough to not have student loans, so I have no excuse for not putting anything away. But I just seem to be incapable of it. It’s like I have financial impostor syndrome — I’m pretty sure that if I did save money, I’d mess it up somehow.

So I spend it all on lunches and rent and clothes and stupid stuff instead. Whenever someone tries to explain savings or investing to me, I just feel so dumb, so I avoid it. I’m not like this in other areas of my life — it’s like a chip is missing from my brain. What is wrong with me?

Your letter basically describes my 20s. In my early adult life, thinking about money felt like pouring molasses into my skull — words would slide into trombone whomps and simple math suddenly looked like parallax formulas. I knew that ignoring the problem would compound it, but I still couldn’t break my mental block.

I wish I could say that my financial hang-ups ended with a dramatic epiphany. But even though I dabbled in credit-card debt and missed a few tax deadlines (I know!), my denial held strong.

The only thing that finally changed was that I got tired of feeling so stupid. I remember a distinct shift one day at work, when I was writing emails and attending meetings and appearing capable (I hope), even though I was secretly stressing out about my overdrawn checking account.

 I didn’t want to live like that anymore. So I began asking other people — mostly friends and family members — how they managed their own money, in the hope that I could feed off their skills and willpower (or maybe just feel better about myself, by comparison). It sounds like you’re on the cusp of a similar phase, only several years ahead of me, so — congratulations!

I understand why you’ve identified with imposterism — you don’t quite feel secure in the life you’ve made for yourself, despite external evidence that you’re doing just fine. There’s a disconnect between how you see yourself (irresponsible, ineffectual) and your reality (you’ve got a decent job and a place to live). You can’t plan for your future without taking stock of where you are, so let’s start there.

To find out what you’re missing, I called Dr. Pauline Rose Clance, the psychologist who coined the term “imposter phenomenon” back in the ’70s. “What you’re describing happens to a lot of people who are bright and competent but hold onto beliefs that they have certain inadequacies,” she says.

“If you were my patient, I’d ask you to think about the origin of that belief — who gave you the message that you’d be bad with money in the first place?”

Of course, that doesn’t necessarily mean that you have an inner money genius lurking in your subconscious. Clance also points out that many of her patients do have an actual knowledge gap (albeit one they’ve usually blown out of proportion), and it’ll take some time and patience to close it.

To continue reading, please go to the original article here:

https://www.thecut.com/2019/08/should-i-just-give-up-on-saving-money.html

Financial Lessons from the Game of Basketball

Financial Lessons from the Game of Basketball

Defense wins championships.

You’ve heard the adage. Coaches, players, announcers, fans, and pretty much everyone involved in team sports believes that defense wins championships.

And it makes sense.

If you can stop the other team from scoring it stands to reason that you’ll have a good shot at winning the game.

While you’ve probably heard the adage used in many sports, you probably hear it used most often in reference to basketball, especially the National Basketball Association (NBA).

So, what does this have to do with personal finance?

Glad you asked.

Let’s delve into financial lessons from the game of basketball.

Offense or Defense?

The game of basketball can be broken down into two basic elements: offense and defense.

The same is true of personal finance, with the equivalent elements of personal finance being income and spending. More specifically, increasing your income or decreasing your spending.

Like the competing elements of offense and defense in basketball, you can make financial progress by increasing your income and/or decreasing your spending.

You need both to succeed, but which is better for winning the game?

The personal finance community is somewhat torn on which element is most important for financial success. Some advocate that increasing your income (offense) is most important because there’s unlimited potential. Others feel that decreasing your spending (defense) is most critical to reduce debt and live within your means no matter your income.

The jury is still out on whether income or spending is more important, but what about basketball? Does defense really win championships?

Does Defense Really Win Championships?

To continue reading, please go to the original article here:

https://www.moneysavedmoneyearned.com/defense-wins-championships-financial-lessons-from-the-game-of-basketball/

What Are the Best States to Retire for Taxes?

What Are the Best States to Retire for Taxes?

Overview of Retirement Tax Friendliness

Retirees have specific financial concerns and some states have taxes that are friendlier to those needs. Of special interest to retirees are generally issues such as whether Social Security benefits are taxable at the state level, what property taxes will be levied and how retirement account and pension withdrawals are taxed.

Click on a state to see a full overview and calculate your taxes  LINK

Very Tax Friendly

States that either have no state income tax, no tax on retirement income, or a significant tax deduction on retirement income. In addition, states in this category have friendly sales, property, estate and inheritance tax rates.   Alaska   Florida   Georgia   Mississippi   Nevada   South Dakota   Wyoming 

Tax Friendly

States that do not tax Social Security income and offer an additional deduction on some or all other forms of retirement income. Generally, states in this category also have relatively friendly sales, property, estate, inheritance and income tax rates.

 Alabama   Arkansas   Colorado   Delaware   Idaho   Illinois  Kentucky   Louisiana   Michigan   New Hampshire   Oklahoma   Pennsylvania   South Carolina   Tennessee   Texas  Virginia   Washington   West Virginia

Moderately Tax Friendly

States that offer smaller deductions on some or all forms of retirement income. The sales, property, estate, inheritance and income tax rates in this category range in friendliness based on the degree of retirement deductions available.

 Arizona   District of Columbia   Hawaii   Indiana   Iowa   Kansas   Maryland   Massachusetts   Missouri   Montana   New Jersey   New Mexico   New York   North Carolina   North Dakota   Ohio   Oregon   Utah   Wisconsin

Not Tax Friendly

States that offer minimal to no retirement income tax benefits. These states also do not have particularly friendly sales, property, estate and inheritance tax rates.

 California   Connecticut   Maine   Minnesota   Nebraska   Rhode Island   Vermont 

Retirement Tax Friendliness

For seniors who plan to move to a new city or state for their retirement, there are a number of factors to consider. Weather is important to many retirees, as are amenities and attractions such as golf courses, beaches, parks and senior centers. Another major consideration is the cost of living in a certain area. Taxes are a big part of that.

To continue reading, please go to the original article at

https://smartasset.com/retirement/retirement-taxes?utm_source=taboola&utm_medium=cpc&utm_campaign=tab__falc_content_famistakes&utm_term=580&utm_content=203587794

.The Secret to Building Wealth – Buy Assets

The Secret to Building Wealth – Buy Assets

By RETIREBYFORTY

The Secret to Building Wealth

The secret to building wealth – Buy Assets and Avoid Liabilities. The first time this became clear to me was when I read Rich Dad Poor Dad by Robert Kiyosaki. The book is an easy read, but it has many flaws*. If you haven’t read it yet, I encourage you to check it out from the library and give it a quick read.

However, you need to take the book with a grain of salt and don’t blindly follow it 100%. You’ll have to separate the good advice from the bad. The biggest takeaway I got from Rich Dad Poor Dad is how to differentiate between assets and liabilities. It turns out, I had it wrong for years.

Once I learned that lesson, building wealth became much smoother. It makes a lot more sense to accumulate assets and avoid liabilities.

* There are many problems with Rich Dad Poor Dad. Mr. Kiyosaki is a great motivational speaker and salesman. That’s how he made his fortune. His books are designed to sell more books, courses, and seminars. Don’t fall for the seminars!

They are expensive and not very useful. You can learn a lot more for free on the internet and the library. I recommend reading The Millionaire Next Door and Your Money Or Your Life before Rich Dad.

Assets and Liabilities

Like most people, I used to think assets mean anything that has a cash value. However, that’s not the right way to look at it. If you want to become wealthy, you need to think of your household finance as a business. An asset is something that, in the future, can generate cash flow for you. Assets make money. Anything that takes money out of your pocket is a liability.

This was a revelation to me. I used to include our home, car, piano, and other personal belonging in the asset column. That’s the wrong way to look at it. All these things are liabilities. It changes how I think about spending. In my 20s, I felt great when I purchased our BMW convertible because I thought it was an asset. Now I know it’s a liability. That’s why I’ll never buy another luxury car as long as I’m building wealth. Once you think about assets and liabilities this way, it is much easier to build passive income.

Let’s take a look at some “assets.”

House

I’m sure you’ve heard that your home is your biggest asset. Is this really true? When you buy a house, you’ll have to pay the mortgage, property tax, HOA, insurance, utilities, repair and maintenance, yard work, and furnish it. That’s a lot of $$$ going out of your pocket every month.

Sure, the house can appreciate, but would the appreciation be enough to surpass all the expenses? That’s not always true. We purchased our 2 bedroom condo in 2007 and sold it 12 years later. The sale price was was just $1,000 over what we paid in 2007.

Add all the other expenses up and we lost a ton of money from living in that condo. We came out a bit ahead compared to renting, but not by much. Anyway, we all need a place to live and a house is great, but it isn’t really an asset.

A house is good because it forces people to save. A portion of the mortgage payment goes to the principal and you’ll get that back when you sell. We collected $140,000 after we sold our condo.

It’s nice to have a lump sum in the bank. Most people use this as a downpayment for the next home, but we didn’t need it because we moved into our rental duplex. I’ll invest the $140,000 in CrowdStreet and dividend stock.

There is one way to generate some money from your house – rent out the extra rooms! We used to rent out the extra room at our old home to new engineers. This worked out great. They were never home and the rent helped pay our mortgage. Renting out an extra room is even more lucrative today with Airbnb.

Lots of people are making extra money with it. This really depends on your personal situation, though. Most people value their privacy too much to rent out the extra room.

*Update* We moved into our rental duplex. We live in one unit and rent the other one out. It’s been great so far. Our housing expense dropped significantly. This is a really good house hack.

Car

For many people, their car is the second most valuable thing they own (next to the house). A car is a necessity to most people and it costs a lot of money. However, it’s not an asset. It’s even worse than your house because a car depreciates every day and you also need to buy gas.

A car is basically a money pit. How much money do you spend on your car every month? Can you imagine investing that money instead? Most of us need a car to go to work and run errands.

It’s an unavoidable expense almost everybody. However, I don’t think anyone should buy a luxury car unless they are already wealthy. I’ll buy another convertible someday, but it can wait until I’m rich.

Everything else you own

To continue reading, please go to the original article at

https://retireby40.org/secret-wealth-buy-assets/

.Triggers To Hack Your Life and Money

20+ Triggers to Hack Your Life & Money

By J. MONEY -

One year ago I picked up a large, 8 cup, water bottle to help force me to drink more water, and after staring at it day in and day out I’m proud to say I’m still going strong and hydrating my body :)

It’s rare stuff like this sticks, but according to my psychology loving friend James Clear, this is the power of “physical triggers.” Items in our life that remind us to do, or think, something specific. Every time I see this large ass bottle sitting on my desk I’m reminded to keep drinking!

We’ve blogged about these triggers before, and how I’m also obsessed with sticky notes which are my all-time favorite triggers (the current one I have on my computer screen simply says “lifestyle” to remind me of why* I blog and work so hard online), but after seeing this email from a new reader of the site, it reminded me to share some others I’ve since come across as well.

Here’s what Janice sent me:

“I love the little games we play with ourselves to motivate. Right now I am working on getting rid of my Starbucks addiction. Every morning that I don’t get one, I drop a $5.00 bill into a big glass jar next to my desk so that I can visually see what I am saving. Silly but effective! Once it is full, I will deposit the money into savings and start over.”

Nice and simple right? And even though I’m a huge fan of spending money on things that make you happy like especially coffee (so long as it’s budged for and a priority!), the idea here is pretty solid. And can easily be used to curb other splurges as well.

Here are a handful of other money triggers that might help too:

Big thanks to everyone who shared these with me at some point over the past handful of months! Some really REALLY good ones here :)

Password Trigger: “Make your passwords a goal you want to accomplish so every time you log into your laptop, download an app, etc. you’re reminded of a different goal you have set for yourself. BEdebtFREE!2016, DEC15FinishBook, DrinkH20NowJ$ :)” – Heather Stephens

Pile of Crap Trigger: “When I was in credit card debt and realized what I was doing, I piled up all of the crap I bought onto my bed and took a picture of it all. Then I carried that picture in my wallet. Whenever I wanted to buy something I saw that picture and it made me think, “is this just going to end up on the pile of crap that I don’t even use/wear?” It really helped me a lot.” – Jon @ Money Smart Guides

Parking Lot Trigger: “My parking spot at work is a trigger to check my goals before entering the building” – Catina Mount

Savings Graph Trigger: “This kind of physical graph is a very powerful tool to help you achieve any of your goals, having them in front of you every day. I find it way more powerful than digital graphs because it is tangible. The target is to be always on track with the pink line (or above!) if we want to own our home in 3 years. I do update our stash amount every month and this is great to see the black curve trying to keep up with the pink one.” – Mustachian Post

Net Worth Text Message Trigger: “I run a quick net worth calc each afternoon and text the wife the day’s number. It keeps her focused on the goal.” – @Andrew_Dad

Blackberry Trigger: “I have a recurring weekly reminder on my Blackberry that pops up to tell me to “Save Money”. I only set it a few months ago, but it seems to help me stay focused.” – Weenie

Comparison Trigger: “I always have this quote on my computer screen, “Never compare yourself to anyone; you are only comparing your worst to their best.” It really helps me put things into perspective especially after a long hard day. – Christine @ ThePursuitofGreen

Financial Independence Trigger: “Today, I have my financial independence number all over the house. It’s taped to my computer monitor, on my message board on my wall and in my bathroom on the mirror. I see it all the time and it reminds me to keep pushing ahead to reach my goals.” – Jon @ Money Smart Guides

early retirement calculator  

To continue reading, please go to the original article at

https://www.budgetsaresexy.com/financial-triggers-grow-your-money/

.Cheapest U.S. Cities for Early Retirement 2019

Cheapest U.S. Cities for Early Retirement 2019

By Stacy Rapacon, Online Editor  Kiplinger| July 4, 2019

Early retirement can be more than just a daydream for those long Tuesday afternoons at work. With some smart planning, you can make leaving the workforce early a reality. You just have to keep in mind the unique challenges facing early retirees.

First of all, entering retirement at a relatively younger age means needing to stretch your nest egg further (hopefully). One way to do that is to find the right retirement destination for you. That's because where you live makes a big impact on your budget. After all, settling down in a place where the cost of living is below the national average means your retirement savings pack in more purchasing power.

With that in mind, we pinpointed 50 great places in the U.S. for early retirees—one in each state—focusing on living costs, median incomes and poverty rates for residents ages 45 to 64, as well as local tax environments and labor markets (just in case you want a second act to stretch your retirement savings further).

Of our 50 picks, these 31 destinations offer particularly low living costs, which heightens the chances of your money lasting through your extra-long retirement and beyond. The list is ordered alphabetically by state.

Huntsville, Ala.

Total Population: 444,908

Share Of Population, Age 45 To 64: 27.8% (U.S.: 26.1%)

Retired Cost Of Living: 5.4% Below The National Average

Median Income, Age 45 To 64: $77,266 (U.S.: $69,909)

State's Retiree Tax Picture: Tax Friendly

As one of the 10 Cheapest States Where You'll Want to Retire, the Heart of Dixie boasts many great spots for affordable living. And Huntsville, in northern Alabama, is one of the best. It offers all the low-cost, low-tax advantages as the rest of the state, but adds more generous household incomes.

Home to NASA's Marshall Space Flight Center, the Redstone Arsenal and the Huntsville campus of the University of Alabama, the city offers a robust economy and a highly educated population.

You can also find plenty of cultural attractions, from a sculpture trail to a symphony orchestra, as well as opportunities for outdoor recreation (think bass fishing). In fact, Alabama at-large offers many of Florida's popular retirement attractions—warm weather, nice beaches and plenty of golf—all at a typically lower price.

To continue reading, please go to the original article at

https://www.kiplinger.com/slideshow/retirement/T037-S001-cheapest-u-s-cities-for-early-retirement-2019/index.html

.Is Hiring A Coach Worth The Money?

Is Hiring A Coach Worth The Money?

(And Do I Need One?)

You’re ready to make a significant change or to improve some part of your life. But you’re struggling to do it on your own. You’re finding it challenging to stay on top of “all the things” to know or with motivation or mindset to reach your goal.

Whether the changes we want to make or the goals we want to achieve are related to our health, career, finances, business, relationships, or some other aspects of our lives – we know it takes effort to make progress.

Striving for achievement, we read articles, download apps, buy books, courses, and products. Following blogs, chatting in forums, joining clubs and organizations, and attending conferences are other ways we might try to move closer to our goals.

large post it notes with coaching words being painted on them

Sometimes you find all the information you need and take action without help from others. But you can probably name at least one important goal you haven’t met – even after trying different ways to accomplish it.

If you suffer from impostor syndrome, are uninspired, would like more guidance, and are ready to move to the next level or make a transformative change, but don’t know where to start -you might consider hiring a coach.

Let’s arm you with some info to help you decide if a coach is right for you. After looking at what a coach does for their client, we’ll dive into:

Why hiring a coach can be a smart decision

When a coach is not the answer

Things to look for in a coach

How to make the most of a coaching experience

What is the Role of a Coach?

Even if you have never played a sport, you know coaches help prepare athletes to meet a goal successfully. The job of a coach is to teach, demonstrate, analyze, encourage, motivate, and more.

Coaches who help you meet life or business goals have a similar role. They ask questions, help you identify goals, work with you to create a plan, and structure a process to assist you in being successful.

But don’t think a coach will tell you what to do and how to do it. You’ll work with your coach rather than being their student. While you’ll learn from them, you’ll be an active participant in the process.

Coaches and clients usually create a short-term arrangement to work together. But the amount of time can vary depending on your goals and the progress you make toward meeting them.

Is Hiring a Coach Worth the Money?

When you can find almost any information you’re looking for on the internet, and with people being able to DIY more things than ever, you might be questioning the value a coach can provide.

If you can save money and try to figure out how to meet your goals yourself, shouldn’t you try that?

While you can certainly work toward your goals on your own, there are several reasons why paying for a coach is worth the money.

Working with a coach can:

Help you discover what’s holding you back and find the motivation to move forward.

Challenge your assumptions; help you find truth and meaning.

Identify ways to capitalize on your strengths and manage your weaknesses.

Increase your awareness and clarity to help you make better decisions.

Clarify your priorities.

Aid you in creating processes and structure.

Keep you focused.

Answer your questions quickly.

Provide you with honest and personalized feedback.

Challenge you to think differently and explore new options.

Help you move out of your comfort zone to make changes and grow.

Make you more accountable.

Support you and boost your confidence.

Improve your work-life balance and relationships.

Help you achieve your goals sooner and set new goals.

Save you time and money!

While we may think we know ourselves well enough to put together our own plan, don’t overlook the knowledge, skills, and experience a good coach brings to the table.

Because a coach can assess your abilities and limitations – real or perceived – from the outside, they can provide suggestions for how to increase, address, or remove them.

Skilled coaches help you laser focus on your specific issues and goals to significantly improve your time to successful change or completion.

To continue reading, please go to the original article at

https://womenwhomoney.com/hiring-coach-worth-money/